Bahrain launches $30 billion offshore cities plan

Web Desk BOL News

25th Nov, 2021. 11:16 am
Bahrain launches

RIYADH: Bahrain has launched a new strategic project plan to invest $30 billion in over 20 new projects, with the construction of five new offshore cities, according to the Bahrain News Agency.

The strategic project plan will see infrastructure development, including a new causeway connecting Bahrain to Saudi Arabia.

Bahrain will also establish a 109km metro system, the 22.5km Northern Road. The strategy will create jobs, and boost economic growth in Bahrain.

Bahrain will increase refining capacity from 267,000 to 380,000 barrels/day through the Bapco Modernisation Programme (BMP), which is the largest industrial project in the history of Bahrain.

As part of the new strategy, the private developers will be able to bid for contracts to develop government land through the Sharaka programme.